Singapore downgrades Q4 GDP, keeps 2023 forecast

Singapore downgrades Q4 GDP, keeps 2023 forecast

SINGAPORE (Reuters) – Singapores economy grew slightly less than initially estimated in the fourth quarter from a year ago, official data showed on Monday, and the government kept its forecast for annual growth to come in at 0.5% – 2.5% this year.

Gross domestic product (GDP) grew 2.1% year-on-year in the fourth quarter, the Ministry of Trade and Industry (MTI) said, slightly lower than the 2.2% growth in the governments advance estimate.

Analysts had expected a 2.3% increase, according to a Reuters poll.

For the full year, GDP grew 3.6% versus an initial 3.8% estimate.

(Reporting by Chen Lin in Singapore; Editing by Sam Holmes)

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